58-5-105. Deposits by life companies not chartered in United States.
Every alien life insurance company organized under the laws of any other country than the United States must have and keep on deposit with some state insurance department or in the hands of trustees, in exclusive trust for the security of its contracts with policyholders in the United States, funds of an amount equal to the net value of all its policies in the United States and not less than three hundred thousand dollars ($300,000). (1899, c. 54, s. 56; Rev., s. 4712; C.S., s. 6316; 1945, c. 384.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 5 - Deposits and Bonds by Insurance Companies.
§ 58-5-1 - Deposits; use of master trust.
§ 58-5-5 - Amount of deposits required of foreign or alien fire and/or marine insurance companies.
§ 58-5-15 - Minimum deposit required upon admission.
§ 58-5-25 - Replacements upon depreciation of securities.
§ 58-5-30 - Power of attorney.
§ 58-5-35 - Securities held by Treasurer; faith of State pledged therefor; nontaxable.
§ 58-5-40 - Authority to increase deposit.
§ 58-5-50 - Deposits of foreign life insurance companies.
§ 58-5-55 - Deposits of capital and surplus by domestic insurance companies.
§ 58-5-63 - Interest; liquidation of deposits for liabilities.
§ 58-5-70 - Lien of policyholders; action to enforce.
§ 58-5-71 - Liens of policyholders; subordination.
§ 58-5-75 - Substitution for securities paid.
§ 58-5-80 - Return of deposits.
§ 58-5-90 - Deposits held in trust by Commissioner or Treasurer.
§ 58-5-95 - Deposits subject to approval and control of Commissioner.
§ 58-5-100 - Deposits by alien companies required and regulated.
§ 58-5-105 - Deposits by life companies not chartered in United States.
§ 58-5-110 - Registration of bonds deposited in name of Treasurer or Commissioner.